Still churny at these levels, and any drops to .27- .285 should probably be taken advantage of in these current conditions, but .325/.33 still needs to be honored IMO, before we see the next wave of buying up. Might take a few more months at least, and probably sysrt around April, again IMO.
HOPEFULLY, after so much changing of hands over the last year or more, there might be little selling resistance towards. 41, and possibly over. 50, once it does kick.
After doing a few hypothetical numbers of late, the SP at present is probably about right, primarily as I used a extremely conservative book value, and am a long way from most analysts and HC number's numbers, but I couldn't bring the price DOWNWARDS in any way, so in reality the only direction it can really go is up.
Unfortunately though, I cannot override sentiment, which has far more sway over the SP, than fundamentals.
My own personal opinion, there is someone quietly buying the lows each day ( vp algos) and probably has been since October, and increasingly during early '24, so maybe we will see at some stage soon..
Meanwhile, anyone watching met coal and lithium??
MLX Price at posting:
30.5¢ Sentiment: Buy Disclosure: Held
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